RISK MITIGATION STRATEGIES AND TIMELY COMPLETION OF ROAD CONSTRUCTION PROJECTS AT NYARUTARAMA PROPERTY DEVELOPERS RWANDA
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Abstract
The general objective of this study was to investigate the effect of risk mitigation strategies on the timely completion of road construction projects at Nyarutarama Property Developers (NPD) Rwanda. The specific objectives were to determine the effect of risk reduction, risk transfer, risk avoidance and risk retention on the timely completion of road construction projects at Nyarutarama Property Developers (NPD) Rwanda. The study employed descriptive survey design, combining quantitative surveys and qualitative interviews. Data was collected from a target population of 319 NPD employees, with a sample size of 178, using stratified random sampling. The study incorporated both primary and secondary data. Validity and reliability of the instruments was ensured through expert reviews and pre-tests, and data was analyzed using SPSS, employing both descriptive and inferential statistics. The results indicated that the variables of risk reduction, risk avoidance, and risk retention significantly impact the timely completion of road construction projects. Specifically, risk reduction (B = 0.295, p < 0.001) and risk avoidance (B = 0.685, p < 0.001) have the strongest positive relationships with timely completion, with risk avoidance showing the highest standardized coefficient (Beta = 0.640), suggesting it has the greatest influence. Risk retention also positively affects timely completion (B = 0.115, p = 0.001), albeit to a lesser extent. In contrast, risk transfer (B = 0.045, p = 0.165) was not found to have a statistically significant effect on timely completion, indicating that it may not be as influential in this context. In conclusion, the study found that risk reduction, risk avoidance, and risk retention significantly contribute to the timely completion of road construction projects, while risk transfer had a minimal effect. It was recommended that Nyarutama Property Developers (NPD) enhance the implementation of risk reduction and avoidance strategies to further improve project outcomes. Further studies could explore the long-term effects of these risk management strategies on project success and investigate the potential integration of new risk management technologies in the construction industry.
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References
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Almalki, S., & Aziz, Z. (2020). Evaluating the effectiveness of risk management strategies in construction projects using regression analysis. International Journal of Project Management, 38(6), 367-377.
Antwi-Afari, M. F., Li, H., Umer, W., Yu, Y., & Xing, X. (2020). Construction activity recognition and ergonomic risk assessment using a wearable insole pressure system. Journal of Construction Engineering and Management, 146(7), 04020077. https://doi.org/10.1061/(ASCE)CO.1943-7862.0001849
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Chen, Y., Zhang, S., & Wang, H. (2021). Analyzing the impact of risk management on project performance: Insights from the construction industry. Project Management Journal, 52(4), 321-335.
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Jamil, N., & Yusoff, N. (2022). Risk avoidance strategies in Malaysian construction projects. Journal of Engineering, Design and Technology, 20(1), 123-137. https://doi.org/10.1108/JEDT-03-2021-0145
Kamau, P., Karanja, J., & Njoroge, F. (2022). Risk avoidance in sub-Saharan African construction projects: A neglected approach. African Journal of Construction Economics, 10(1), 87-102. https://doi.org/10.1177/23456789221008745
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Karanja, J., Wambua, T., & Mutua, K. (2020). The impact of risk management strategies on timely project completion in Kenya. East African Journal of Project Management, 12(3), 150-168. https://doi.org/10.1002/pm.12345
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Li, H., Zhang, X., & Wang, Y. (2023). Regression analysis of risk factors influencing timely completion in construction projects. Journal of Management in Engineering, 39(1), 04022086.
Martinez, P., & Garcia, L. (2021). Risk avoidance strategies in large-scale infrastructure projects: Lessons from Latin America. International Journal of Engineering and Project Management, 9(4), 305-321. https://doi.org/10.1016/j.ijepm.2021.07.009
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Nassif, M., & El-Sayegh, S. (2020). Risk management in road construction projects: A Middle Eastern perspective. Journal of Infrastructure Management, 5(1), 55-70. https://doi.org/10.1007/s40940-020-00152-6
Nassif, Y., & El-Sayegh, S. (2020). Risk retention strategies in UAE construction projects. International Journal of Construction Project Management, 12(2), 89-102.
Ndayambaje, I., & Nkurunziza, D. (2023). Risk management practices and performance of road construction projects in Rwanda. Journal of Engineering, Technology and Innovation, 14(1), 63-78. https://doi.org/10.32629/jeti.v14i1.456
Ndungu, J. M., & Omondi, P. (2021). Evaluation of risk management strategies in road construction projects in Kenya. Journal of Civil Engineering and Construction Technology, 12(1), 1-10. https://doi.org/10.5897/JCECT2020.0542
Nguyen, L. D., Nguyen, H. T., & Tran, D. Q. (2020). The impact of risk management on project success: A study of construction projects in Vietnam. International Journal of Construction Management, 20(5), 429-438.
Nguyen, T. P., Le, T. D., & Pham, Q. H. (2021). Regression analysis of risk management practices and project outcomes in Vietnamese construction projects. Engineering, Construction and Architectural Management, 28(7), 1850-1865.
Nguyen, T., Lee, J., & Xie, Z. (2022). Risk transfer mechanisms and their efficiency in public-private partnership (PPP) construction projects. Journal of Financial Engineering and Risk Management, 18(3), 200-218. https://doi.org/10.1080/14606925.2022.1890925
Osei-Kyei, R., & Chan, A. P. C. (2022). Implementing risk management in public-private partnership projects in Sub-Saharan Africa: Drivers and challenges. International Journal of Project Management, 40(5), 567-579.
Pallant, J. (2021). SPSS survival manual: A step-by-step guide to data analysis using IBM SPSS (7th ed.). McGraw-Hill Education.
Project Management Institute (PMI). (2021). A guide to the project management body of knowledge (PMBOK® guide) (7th ed.). Project Management Institute.
Saunders, M., Lewis, P., & Thornhill, A. (2021). Research methods for business students (8th ed.). Pearson Education.
Sekaran, U., & Bougie, R. (2020). Research methods for business: A skill-building approach (8th ed.). Wiley.
Smith, R., & Jones, P. (2023). Risk reduction in infrastructure development: Enhancing resilience in construction projects. Journal of Sustainable Construction, 14(1), 45-62. https://doi.org/10.1002/jsc.1401
Tavakol, M., & Dennick, R. (2021). Making sense of Cronbach's alpha. International Journal of Medical Education, 2, 53-55. https://doi.org/10.5116/ijme.4dfb.8dfd
Teddlie, C., & Yu, F. (2007). Mixed methods sampling: A typology with examples. Journal of Mixed Methods Research, 1(1), 77-100.
Zhang, X., & Xie, H. (2021). Application of regression analysis in assessing risk factors affecting construction project performance. Journal of Civil Engineering and Management, 27(3), 200-210.
Zikmund, W. G., Babin, B. J., Carr, J. C., & Griffin, M. (2020). Business research methods (10th ed.). Cengage Learning.
Almalki, S., & Aziz, Z. (2020). Evaluating the effectiveness of risk management strategies in construction projects using regression analysis. International Journal of Project Management, 38(6), 367-377.
Antwi-Afari, M. F., Li, H., Umer, W., Yu, Y., & Xing, X. (2020). Construction activity recognition and ergonomic risk assessment using a wearable insole pressure system. Journal of Construction Engineering and Management, 146(7), 04020077. https://doi.org/10.1061/(ASCE)CO.1943-7862.0001849
Bryman, A. (2021). Social research methods (6th ed.). Oxford University Press.
Chen, Y., Lu, H., & Xie, J. (2021). Application of Building Information Modeling (BIM) in construction risk management: A literature review. Journal of Civil Engineering and Management, 27(4), 300-315. https://doi.org/10.3846/jcem.2021.14525
Chen, Y., Zhang, S., & Wang, H. (2021). Analyzing the impact of risk management on project performance: Insights from the construction industry. Project Management Journal, 52(4), 321-335.
Creswell, J. W., & Creswell, J. D. (2021). Research design: Qualitative, quantitative, and mixed methods approaches (5th ed.). SAGE Publications.
Field, A. (2020). Discovering statistics using IBM SPSS Statistics (5th ed.). SAGE Publications.
Gatsinzi, P., & Nyandwi, E. (2022). Risk management practices in Rwandan road construction projects. Journal of Construction Engineering and Management, 148(3), 04022012. https://doi.org/10.1061/(ASCE)CO.1943-7862.0002220
Hassan, A., Adeleke, A. Q., & Hussain, S. (2021). The impact of risk reduction strategies on project success in the Nigerian construction industry. International Journal of Construction Management, 21(5), 451-460. https://doi.org/10.1080/15623599.2019.1627505
Hassan, A., Mohammed, S., & Osei, R. (2021). The role of risk management frameworks in mitigating delays in African construction projects. International Journal of Project Management, 39(4), 567-582. https://doi.org/10.1016/j.ijproman.2021.04.007
Jamil, M., & Yusoff, N. (2022). Evaluating the effectiveness of risk transfer in the construction sector: A global perspective. Journal of Construction Risk Management, 15(2), 211-225. https://doi.org/10.1108/JCRM-2022-0156
Jamil, N., & Yusoff, N. (2022). Risk avoidance strategies in Malaysian construction projects. Journal of Engineering, Design and Technology, 20(1), 123-137. https://doi.org/10.1108/JEDT-03-2021-0145
Kamau, P., Karanja, J., & Njoroge, F. (2022). Risk avoidance in sub-Saharan African construction projects: A neglected approach. African Journal of Construction Economics, 10(1), 87-102. https://doi.org/10.1177/23456789221008745
Karanja, J. M., Were, S., & Rambo, C. (2020). Influence of risk transfer strategies on project performance in Kenyan construction firms. International Journal of Project Management, 38(6), 345-356. https://doi.org/10.1016/j.ijproman.2020.06.004
Karanja, J., Wambua, T., & Mutua, K. (2020). The impact of risk management strategies on timely project completion in Kenya. East African Journal of Project Management, 12(3), 150-168. https://doi.org/10.1002/pm.12345
Kerzner, H. (2021). Project management: A systems approach to planning, scheduling, and controlling (13th ed.). Wiley.
Kigabo, T., Uwizeyimana, D., & Habimana, A. (2023). Challenges in risk management practices in Rwanda's construction industry. Rwandan Journal of Engineering, 5(2), 45-58. https://doi.org/10.4314/rje.v5i2.4
Kothari, C. R. (2019). Research methodology: Methods and techniques (4th ed.). New Age International Publishers.
Kothari, C. R. (2020). Research methodology: Methods and techniques (4th ed.). New Age International Publishers.
Kumar, R. (2020). Research methodology: A step-by-step guide for beginners (5th ed.). SAGE Publications.
Laerd Statistics. (2021). SPSS statistics tutorials and statistical guides. https://statistics.laerd.com/
Lee, C., & Kim, H. (2020). Risk retention strategies in construction project management: When to hold or transfer risks. Construction Management and Economics, 38(5), 421-437. https://doi.org/10.1080/01446193.2020.1720756
Lee, J., & Kim, S. (2022). The role of combined risk management strategies in ensuring timely completion of construction projects. Journal of Construction Engineering and Project Management, 12(1), 45-54.
Li, H., Zhang, X., & Wang, Y. (2023). Regression analysis of risk factors influencing timely completion in construction projects. Journal of Management in Engineering, 39(1), 04022086.
Martinez, P., & Garcia, L. (2021). Risk avoidance strategies in large-scale infrastructure projects: Lessons from Latin America. International Journal of Engineering and Project Management, 9(4), 305-321. https://doi.org/10.1016/j.ijepm.2021.07.009
Mpinganzima, L., Nkurunziza, D., & Habiyaremye, J. (2021). Risk factors affecting construction projects in Rwanda: A case study of road construction. International Journal of Construction Management, 21(3), 215-225. https://doi.org/10.1080/15623599.2019.1594287
Mpinganzima, L., Nkurunziza, D., & Habiyaremye, J. (2021). Risk management strategies in Rwanda’s construction sector: A case study of road construction projects. Rwandan Journal of Engineering and Development, 7(2), 115-132. https://doi.org/10.4314/rjed.v7i2.015
Mugenda, O. M., & Mugenda, A. G. (2020). Research methods: Quantitative and qualitative approaches (5th ed.). Nairobi: Acts Press.
Mungai, J., & Mwenda, J. (2021). Risk mitigation strategies and timely completion of road construction projects in East Africa. Journal of Construction Project Management and Innovation, 11(2), 23-38. https://doi.org/10.36615/jcpmi.v11i2.102
Nassif, M., & El-Sayegh, S. (2020). Risk management in road construction projects: A Middle Eastern perspective. Journal of Infrastructure Management, 5(1), 55-70. https://doi.org/10.1007/s40940-020-00152-6
Nassif, Y., & El-Sayegh, S. (2020). Risk retention strategies in UAE construction projects. International Journal of Construction Project Management, 12(2), 89-102.
Ndayambaje, I., & Nkurunziza, D. (2023). Risk management practices and performance of road construction projects in Rwanda. Journal of Engineering, Technology and Innovation, 14(1), 63-78. https://doi.org/10.32629/jeti.v14i1.456
Ndungu, J. M., & Omondi, P. (2021). Evaluation of risk management strategies in road construction projects in Kenya. Journal of Civil Engineering and Construction Technology, 12(1), 1-10. https://doi.org/10.5897/JCECT2020.0542
Nguyen, L. D., Nguyen, H. T., & Tran, D. Q. (2020). The impact of risk management on project success: A study of construction projects in Vietnam. International Journal of Construction Management, 20(5), 429-438.
Nguyen, T. P., Le, T. D., & Pham, Q. H. (2021). Regression analysis of risk management practices and project outcomes in Vietnamese construction projects. Engineering, Construction and Architectural Management, 28(7), 1850-1865.
Nguyen, T., Lee, J., & Xie, Z. (2022). Risk transfer mechanisms and their efficiency in public-private partnership (PPP) construction projects. Journal of Financial Engineering and Risk Management, 18(3), 200-218. https://doi.org/10.1080/14606925.2022.1890925
Osei-Kyei, R., & Chan, A. P. C. (2022). Implementing risk management in public-private partnership projects in Sub-Saharan Africa: Drivers and challenges. International Journal of Project Management, 40(5), 567-579.
Pallant, J. (2021). SPSS survival manual: A step-by-step guide to data analysis using IBM SPSS (7th ed.). McGraw-Hill Education.
Project Management Institute (PMI). (2021). A guide to the project management body of knowledge (PMBOK® guide) (7th ed.). Project Management Institute.
Saunders, M., Lewis, P., & Thornhill, A. (2021). Research methods for business students (8th ed.). Pearson Education.
Sekaran, U., & Bougie, R. (2020). Research methods for business: A skill-building approach (8th ed.). Wiley.
Smith, R., & Jones, P. (2023). Risk reduction in infrastructure development: Enhancing resilience in construction projects. Journal of Sustainable Construction, 14(1), 45-62. https://doi.org/10.1002/jsc.1401
Tavakol, M., & Dennick, R. (2021). Making sense of Cronbach's alpha. International Journal of Medical Education, 2, 53-55. https://doi.org/10.5116/ijme.4dfb.8dfd
Teddlie, C., & Yu, F. (2007). Mixed methods sampling: A typology with examples. Journal of Mixed Methods Research, 1(1), 77-100.
Zhang, X., & Xie, H. (2021). Application of regression analysis in assessing risk factors affecting construction project performance. Journal of Civil Engineering and Management, 27(3), 200-210.
Zikmund, W. G., Babin, B. J., Carr, J. C., & Griffin, M. (2020). Business research methods (10th ed.). Cengage Learning.